NANO Nuclear Energy (NasdaqCM:NNE) FY Conference Transcript

Summary of NANO Nuclear Energy FY Conference Call Company Overview - Company: NANO Nuclear Energy (NasdaqCM:NNE) - Focus: Development of next-generation micro-reactors, nuclear fuel fabrication, and transportation technology aimed at providing smaller, simpler, and safer clean energy solutions [1] Key Areas of Focus - Micro-Reactors: The company is concentrating on micro-reactors, particularly the Kronos MMR, which has a capacity of approximately 15 megawatts electric [2] - Market Applications: Potential applications include data centers, industrial power needs, military bases, remote communities, and various process heat applications like desalination [2] Industry Dynamics - Nuclear Renaissance: The company is benefiting from a global nuclear renaissance driven by strong demand for clean, reliable base load energy, climate mandates, and bipartisan government support [3][4] - Corporate Interest: Major tech companies (Microsoft, Amazon, Google, etc.) are expanding their nuclear capabilities, indicating a growing reliance on nuclear energy for data centers [4] Value Proposition of Nuclear Energy - Base Load Power: Nuclear energy is recognized as the ideal source for base load power due to its reliability, zero emissions, and high capacity factor [5] - Growth Commitment: Countries and major companies are committing to significantly increase nuclear capacity by 2050, with the U.S. aiming to quadruple its capacity [5] Micro-Reactor Advantages - Cost and Safety: Micro-reactors are designed to address challenges faced by traditional reactors, such as long approval times and high construction costs, while enhancing safety through factory fabrication and modular assembly [8][9] - Economies of Scale: The design allows for cost-effective scaling and reduced initial capital expenditures, which is attractive to potential customers [9] Kronos MMR Specifics - Design and Technology: The Kronos MMR utilizes TRISO fuel and is nearing the formal licensing process in the U.S. and Canada, with significant prior investment and historical deployment data supporting its design [12][11] - Licensing Timeline: The company plans to submit a construction permit application in early 2026, aiming for operational status by 2029 or 2030 [21][36] Strategic Partnerships and Projects - University of Illinois: A prototype project is planned at the University of Illinois, with strong support from the university and state incentives [22][21] - Chalk River Project: A potential second prototype in Ontario, Canada, is being explored, which could benefit from the licensing progress made in the U.S. [23] Fuel Supply Chain and Vertical Integration - Self-Sufficient Supply Chain: The company is focused on vertical integration to ensure a self-sufficient nuclear fuel supply chain, including partnerships for enrichment and fuel transportation [25][26] - LIS Technologies: Collaboration with LIS Technologies aims to address enrichment bottlenecks, leveraging advanced laser-based enrichment technology [27][29] Financial Outlook and Valuation - Market Valuation: NANO Nuclear Energy's current valuation is approximately $1.7 billion, significantly lower than peers valued at $6 billion to $16 billion, indicating a potential valuation disconnect [32] Conclusion - Growth Potential: The company is optimistic about its growth trajectory, with a strong pipeline of commercial opportunities and plans for significant progress in licensing and project development in 2026 [32][19]